Khamis, 8 November 2012

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Nor'easter: Northeast storm complicates Sandy cleanup - Chicago Tribune

Posted: 08 Nov 2012 08:46 AM PST

The nor'easter that stymied recovery efforts from Superstorm Sandy pulled away from New York and New Jersey Thursday, leaving hundreds of thousands of new people in darkness after a blanket of thick, wet snow snapped storm-weakened trees and downed power lines.

From Brooklyn to storm-battered sections of the Jersey shore and Connecticut, about 750,000 customers — more than 200,000 from the new storm — in the region were without power in temperatures near freezing, some living for days in the dark.

"We lost power last week, just got it back for a day or two, and now we lost it again," said John Monticello of Point Pleasant Beach, N.J. "Every day it's the same now: turn on the gas burner for heat. Instant coffee. Use the iPad to find out what's going on in the rest of the world."

But most were just grateful the new storm didn't bring a fresh round of devastation.

"For a home without power, it's great. It came through the storm just great," said Iliay Bardash, 61, a computer programmer on Staten Island without electricity since last week. "But things are not worse, and for that I am thankful."

Nearby, Vladimir Repnin emerged from his powerless home with a snow shovel in his hand, a cigarette in his mouth and a question from someone cut off from the outside world.

"Who won? Obama?" he asked.

He didn't like the answer.

"The Democrats ruined my business," he said, referring to his shuttered clothing manufacturing firm.

Unlike other holdouts who got by with generators or gas stoves, the 63-year-old from the Ukraine has been without power since Sandy brought eight feet of water through his door and his neighbor's deck into his yard. He tried to beat the cold Wednesday night by sleeping with his Yorkie Kuzya and cat Channel.

"I had the dog right here," he said, pointing to his left side, "and the cat on my chest. It was still too cold, but I cannot leave my house."

Throughout Staten Island's beach area, the storm had blanketed growing piles of debris with several inches of snow. By mid-morning, it was starting to melt, filling the streets with filthy sludge.

Roads in New Jersey and New York City were clear for the morning commute, and rail lines into New York were running smoothly so far, despite snow still coming down heavily in some areas.

The nor'easter, as promised, brought gusting winds, rain and snow, but not the flooding that was anticipated.

"The good news, thank goodness, is except for maybe 2 inches of snow, there were no other problems," said Randi Savron, 51, a schoolteacher who lives in the Rockaways, one of the areas that flooded badly last week. The idyllic beachfront boardwalk was loosed from pilings and ended up outside her apartment building door.

She said it seemed like work would continue.

But additional outages could stall recovery efforts, even though utility companies had prepared, adding extra crews ahead of the nor'easter.

In New Jersey, there were about 400,000 power outages early Thursday; 150,000 of those were new. In New York City and Westchester, more than 70,000 customers were without power after the storm knocked out an additional 55,000 customers.

For Consolidated Edison, the extra outages were dealt with swiftly, so there were only about 3,000 additional customers without power from the total Wednesday of 67,000.

"I think we're going to be able to power through. Our objective was to get power restored to everyone by the weekend and we're still working with that goal," said Alfonso Quiroz, a spokesman for the utility.

Gunman Who Shot Giffords to Be Sentenced - New York Times

Posted: 08 Nov 2012 08:55 AM PST

TUCSON — Jared L. Loughner is expected to be sentenced to life in prison on Thursday, three months after pleading guilty to 19 criminal counts in federal court, including murder and the attempted assassination of former Representative Gabrielle Giffords, who had been the target of the attack.

Before the sentencing hearing began Thursday morning, Ms. Giffords sat in a corner at the end of a courtroom bench, next to her husband, Mark E. Kelly.

Mr. Kelly was scheduled to read a statement on behalf of his wife, who continues to have difficulty speaking. It was the first time the family has confronted Mr. Loughner.

Congressman Ron Barber, who was hit in the leg during the shooting, was also scheduled to speak, along with at least eight other victims, according to court officials. Yellow boxes of tissues had been placed on the edge of each courtroom bench.

Mr. Loughner, 24, who has been held at a federal hospital in Missouri for more than a year undergoing psychiatric examinations, has been given a diagnosis of schizophrenia, but he was deemed competent in August to agree to the plea deal, under which he is not eligible for parole or to appeal his sentence.

On Jan. 8, 2011, Mr. Loughner arrived at a public event being hosted by Ms. Giffords, then a member of the United States House of Representatives, at a Tucson shopping center, armed with a loaded Glock 9-millimeter pistol and carrying 60 rounds of extra ammunition.

In less than 30 seconds, he fired 31 shots, killing six people and injuring 13 others. He stopped shooting only when he paused to reload. He was eventually tackled and restrained by onlookers.

The dead included John M. Roll, 63, a federal court judge, Gabriel M. Zimmerman, 30, who had been an aide to Ms. Giffords, and 9-year-old Christina-Taylor Green.

Ms. Giffords was gravely wounded after being shot in the head.

Mr. Loughner, a community college student, had originally pleaded not guilty to 49 charges connected to the shooting spree. He had for years exhibited signs of mental illness, including yelling out in high school classes and complaining about voices in his head.

At a court hearing in May 2011, he interrupted the proceedings with an incoherent outburst and was removed from the courtroom. It was at that hearing that Judge Larry A. Burns, a federal distirct court judge, ruled Mr. Loughner incompetent to stand trial.

Mr. Loughner was initially being medicated by force, under orders of the Bureau of Prisons, but has been voluntarily taking medication since this summer.

Dr. Christina Pietz, a psychologist who has been treating Mr. Loughner, said that over time he had become cognizant of his actions.

Dr. Pietz testified at the August hearing that Mr. Loughner's feelings had evolved from regret for failing to kill Ms. Giffords, against whom he had harbored a secret grudge for several years, to contrition for wounding her and others and for taking people's lives.

"I especially cried for the child" and "yelled a lot because it hurt so bad," Mr. Loughner once told Dr. Pietz, she testified, reading from notes she had kept of their encounters.

Ms. Giffords resigned from Congress in January 2012 to focus on her recovery.

Timothy Williams contributed reporting from New York.

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Rabu, 7 November 2012

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MIDF raises Gas Malaysia target price

Posted: 07 Nov 2012 06:12 PM PST

MIDF Research raised its target price on Gas Malaysia Bhd to RM3.11 from RM2.84 after the gas provider's nine-month earnings came in above market expectations.

"As of yesterday's closing (RM2.62 per share), Gas Malaysia could still provide investors with a dividend yield of 4.5 percent and 4.3 percent for the financial year ending Dec.
31, 2012 (FY12) and FY13 respectively," the research house said in a note on Thursday.

Maintaining "buy" on the counter, MIDF said it was increasing its FY12 and FY13 earnings forecasts by 7.8 percent and 9.5 percent, respectively.

However, the counter declined 0.38 percent by 0134 GMT, underperforming the benchmark stock index's 0.17 percent drop. -- Reuters

CPO prices must stay at RM2,200: Mistry

Posted: 07 Nov 2012 05:31 PM PST

JAKARTA: Benchmark Malaysian palm oil prices must stay at around RM2,200 (US$720) a tonne for two months in order to stimulate demand for the edible oil and reduce high stock levels, a leading industry analyst said on Thursday.

Malaysian palm oil prices have already lost about a quarter this year to trade at around RM2,400 (US$780) a tonne, as stocks rise in top producers Indonesia and Malaysia and demand slumps, hit by a global economic downturn.

But palm prices must fall further within the next 4 to 6 weeks to lure buyers and cut back inventories, said Dorab Mistry, head of edible oil trading at Indian conglomerate Godrej Industries.

He made a similar call at an industry conference in Malaysia in October.

"One thing is crystal clear. Futures are very overpriced at present," Mistry said in a speech to be delivered at an industry meeting in the Chinese city of Guangzhou.

"A period of short-term pain will be rewarded with ample long-term gain."

Last month, second-largest producer Malaysia said it would cut export taxes next year, which has helped support crude palm oil prices. The government also said it would scrap duty-free export quotas.

Mistry said that by January, the government would have to announce loopholes and exemptions to this new export tax regime to allow substantial duty-free exports of crude palm oil, otherwise monthly exports will fall.

"In their euphoria, plantation groups and their cheerleaders have overlooked one simple but significant fact," Mistry said.

"In the last fortnight, palm oil has completely priced itself out of any meaningful energy demand," he added.

Palm oil is used as a cooking oil, biofuel and in cosmetics.

STOCKS TO MARCH HIGHER

Seasonally strong production may have driven Malaysian palm oil stocks to another record high in October, a Reuters survey of five plantation firms showed this week.

Inventory levels may have grown 7.5 percent in October to 2.67 million tonnes from a previous peak of 2.48 million in September, the poll showed.

Malaysian palm oil stocks are likely to increase further in November and December, Mistry said, adding that they will total 3 million tonnes by Jan. 1 next year.

Crude palm oil production will be 18.4 million tonnes by Malaysia this year and 27.5 million by Indonesia, he estimated.

Output prospects next year had brightened as a result of the fadeout of the El Nino weather event and better rain, he added. -- Reuters

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Obama Fine-Tuned 2008's Winning Formula - Wall Street Journal

Posted: 07 Nov 2012 09:07 AM PST

President Barack Obama secured a second term Tuesday by assembling a set of discrete voting blocs into an electoral majority, nurturing support among Hispanics and African Americans, women and young people, while holding his own among working-class voters in the pivotal state of Ohio.

From the outset, the Obama team knew it couldn't count on the euphoric wave that propelled the president to victory four years earlier. Winning in 2012 would depend, as his top aides put it, on a state-by-state "blocking and tackling" effort to preserve what they could of his 2008 coalition.

With the economy still feeble and ...

Republicans Retain House by Shoring Up Incumbents - New York Times

Posted: 07 Nov 2012 08:22 AM PST

Deep disapproval of Congress and dissatisfaction with partisan division appeared no match for gerrymandering and incumbency on Tuesday, as Republicans retained a firm hold on the House of Representatives, assuring the continuation of divided government for at least another two years.

Democrats made modest gains in the House, and managed to run out of town Tea Party-backed Republican freshmen, like Representative Allen West, who appeared to have lost by roughly 2,500 votes in Florida Tuesday night, though he has yet to concede, and Representative Nan Hayworth of New York, who found her conservative leanings a liability in a presidential year.

Democrats also cleaned up in Illinois, one of the few states where Democrats had an upper hand in redistricting, turning away three Republican freshmen and sending Representative Judy Biggert, a long-serving Republican member from the Chicago suburbs, back home. California and New Hampshire also provided some Democratic gains.

The Democrats' most impressive saves were in Utah, where Representative Jim Matheson managed to beat back a well-financed and high profile challenger in Mia Love by fewer than 3,000 votes, remaining that state delegation's only Democrat, and in Georgia, where Representative John Barrow, the last white Democrat in the Deep South, prevailed.

But in the first Congressional election since decennial redistricting, Republicans, who controlled the process in scores of states, used that advantage, matched with an aggressive candidate recruitment plan that eluded Senate Republicans, to hold off the big gains that Representative Nancy Pelosi of California, the minority leader, suggested were coming.

For the many gains made by Democrats — who appeared Wednesday morning to have a six-seat gain — Republicans were able to add to their own column.

In North Carolina, where their redistricting efforts targeted vulnerable Democrats more than just about anywhere else, Republicans won a seat left open by the retirement of one prominent Blue Dog, Representative Brad Miller, as former federal prosecutor George Holding, easily defeated his Democratic opponent. Another Democratic incumbent, Representative Larry Kissell, long used to fending off Republicans, lost to Richard Hudson, a former Republican staffer.

In Kentucky, Republicans got their wish and finally tossed Representative Ben Chandler, one of the last remaining Blue Dogs, from his seat. Andy Barr, who lost to Mr. Chandler by 647 votes in 2010, finally took out the incumbent, who had served since 2004.

While Tea Party-backed incumbents lost in several districts, the two members with  the loudest voices in Congress remain. Representative Michele Bachmann of Minnesota squeaked by in her matchup, and Representative Steve King of Iowa handily beat back Christie Vilsack, the wife of Agriculture Secretary Tom Vilsack, a former Iowa governor.

Ticket splitting helped the party, too. Representative Tom Latham, Republican of Iowa defeated Representative Leonard Boswell, a Democrat, in the battle  between the two long-serving incumbents, even though President Obama won the state. In Colorado, where Mr. Obama also prevailed, so did a Republican incumbent, Mike Coffman, who is among the more conservative members. 

 "Just as in 2010," said Representative Pete Sessions of Texas, who leads the National Republican Campaign Committee, "our House Republican candidates listened to the American people and rejected the Democrats' tax-and-spend agenda that threatens the American dream."

Democrats began the year with deep pockets and a plan to focus on scores of Republican freshmen, particularly those with a Tea Party imprimatur, in an effort to retake the House after losing it in 2010.

Retirements by a large number of Democratic members, and a message on Medicare that more or less fizzled, were additional impediments. Blue Dog Democrats, a group of moderates whose numbers have been dwindling, were particularly endangered as they struggled to defend districts they had long held.

Many Democrats started the cycle off in strong position, particularly after high-profile fights in Congress over issues like the payroll tax extension and student loan rates. But the environment changed significantly as time went on, with voters divided over the disparate policy prescriptions offered by the two parties on the economy, entitlements and taxes.

As the leaves began to change and the temperatures dropped, what once seemed like a Democratic surge evaporated. There appeared to be no single issue that Democrats could turn to their advantage, like the health care debate that so dominated the 2010 Congressional elections and propelled Republicans back into the majority. President Obama's coattails had little effect in many states he easily won.

The fight over the Medicare program, which Democrats thought would help them pick up seats from west to east, more or less fizzled. Indeed Representative Kathleen C. Hochul, who was elected last year in an upset victory in a special election, conceded to Republican challenger Chris Collins Tuesday.

Democrats had a far better day over all in the Senate, maintaining their control there and ensuring that the two chambers would continue their contentious relationship through 2014.

Most immediately, with no undisputed mandate on either side of the aisle to manage fiscal policy, Congress will move to confront the so-called fiscal cliff, and simultaneous expiration of myriad tax provisions and drastic budget cuts.

It remains to be seen whether the tone and content of the bruising fight over the debt ceiling and other fiscal matters in the 112th Congress will continue into the next session, or if both parties will conclude that the only mandate lawmakers have is to finally work together and bridge the gap on those difficult issues.

"For two years, our majority in the House has been the primary line of defense for the American people against a government that spends too much, taxes too much, and borrows too much when left unchecked," House Speaker John A. Boehner of Ohio said Tuesday. "In the face of a staggering national debt that threatens our children's future, our majority passed a budget that begins to solve the problem."

Mr. Boehner, who has called a midafternoon news conference on Capitol Hill to discuss the so-called January fiscal cliff, when billions of dollars in tax increases and automatic spending cuts go into effect, adding,  "With this vote, the American people have also made clear that there is no mandate for raising tax rates."

The poor showing is likely to result in new questions about whether Ms. Pelosi will remain her party's leader in the House.

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Selasa, 6 November 2012

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MIDF cuts Hartalega to 'neutral'

Posted: 06 Nov 2012 05:50 PM PST

MIDF Research downgraded Hartalega Holdings Bhd, the world's top synthetic glove maker, to a "neutral" from "buy" after shares of the company reached an all-time high.

"The stock has increased significantly in the last few months, appreciating 65.7 percent year-to-date and is currently trading at its highest level. At this juncture, we believe there is limited upside potential for price appreciation in the near term," said MIDF in a report on Wednesday.

It maintained a target price of RM5.10 for the stock.

The stock was buoyed by the company's improved earnings for the first half of 2013 financial year. Revenue rose 12 percent to RM502.7 million, while net profit rose 10.9 percent to RM111.9 million, according to MIDF.

Hartalega shares were up 1.84 percent at RM4.98. -- Reuters

KL shares open trade lower

Posted: 06 Nov 2012 06:38 PM PST

Share prices on Bursa Malaysia extended losses for the third consecutive day Wednesday, despite advances seen on Wall
Street overnight, dealers said.

As at 9.40 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.91 points lower at 1,647.45 after opening at 1,649.36.

US stocks posted strong performance for the second consecutive day as the country went to the US presidential election to elect between Barack Obama and Mitt Romney for the president.

On the local front, the Finance Index fell 3.27 points to 15,012.06, while the FBM Ace Index rose 13.72 points to 4,288.46 and the FBM Mid 70 Index added 17.56 points to 12,414.24.


The Industrial Index shed 3.38 points to 2,851.33, the FBM Emas Index declined 13.22 points to 11,254.88, the FBMT100 slipped 12.88 points to 11,090.15 and the Plantation Index fell 8.48 points to 8,132.91.

Gainers led losers 170 to 104, with 204 counters unchanged and 1,165 untraded.

Volume stood at 172.846 million shares worth RM116.917 million.

For the actives, Sycal Ventures earned one sen to 21 sen, while Niche Capital lost two sen to 16 sen.

Among heavyweights, Maybank, Sime Darby, CIMB and Petronas Chemicals were flat at RM9.04, RM9.75, RM7.71 and RM6.45, respectively. Bernama

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Obama congratulates Romney on "spirited campaign" - Reuters

Posted: 06 Nov 2012 09:27 AM PST

First lady Michelle Obama hugs U.S. President Barack Obama on last night of campaigning while in Des Moines, Iowa, November 5, 2012. REUTERS/Larry Downing

CHICAGO | Tue Nov 6, 2012 12:24pm EST

(Reuters) - U.S. President Barack Obama congratulated Republican rival Mitt Romney on Tuesday for running a hard-fought race for the White House and expressed confidence he would win re-election during a stop at a local campaign office to thank volunteers.

"I ... want to say to Governor Romney congratulations on a spirited campaign. I know that his supporters are just as engaged and just as enthusiastic and working just as hard today," Obama said as volunteers made phone calls encouraging supporters to get to the polls.

"We feel confident we've got the votes to win, but it's going to depend ultimately on whether those votes turn out. And so I would encourage everybody on all sides just to make sure that you exercise this precious right that we have that people fought so hard for us to have."

Obama made calls to volunteers from the campaign office to thank them for working for his re-election.

"I expect that we'll have a good night, but no matter what happens, I just want to say how much I appreciate everybody who supported me, everybody who's worked so hard on my behalf," he said.

Opinion polls show Obama and Romney in a virtual dead heat, although the Democratic incumbent has a slight advantage in several vital swing states that could give him the 270 electoral votes needed to win the state-by-state contest.

Traditionally presidential candidates get media attention on Election Day by going to vote. But Obama cast his ballot in Chicago last month - part of his campaign's push to get its supporters to vote early.

So the president's visit to the office gave him a chance to get in front of the cameras, generate news coverage and encourage turnout.

Obama and Romney, a former Massachusetts governor and private equity executive, have fought a largely negative campaign. Obama's team attacked Romney for his business record, and Romney's team criticized the president for presiding over high unemployment and a slow economic recovery.

Obama's conciliatory comments represent the close of the bitter campaign and could appeal to last-minute undecided voters, who are turned off by the lack of bipartisanship in Washington.

In addition to his campaign office stop, Obama is doing a round of interviews and is expected to play basketball with friends, a tradition for the sports-loving president on Election Day.

(Editing by Xavier Briand)

Suspense to the finish, Biden surprises Romney-Ryan with dueling stop in ... - Washington Post

Posted: 06 Nov 2012 09:34 AM PST

CLEVELAND — Campaign 2012 packed frantic suspense to the finish, with Vice President Joe Biden flying in unannounced next to Republican Mitt Romney's campaign plane in battleground Ohio on Tuesday even as voters across the country were deciding who would win the White House.

President Barack Obama stayed in hometown Chicago, reaching out to swing-state voters on the phones and via satellite while the other three men on the rival tickets had a high noon face-off near the shore of Lake Erie.

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Isnin, 5 November 2012

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SapuraKencana up on deal with Seadrill

Posted: 05 Nov 2012 06:19 PM PST

SapuraKencana Petroleum Bhd rose as much as 7.75 percent after the Malaysian oil and gas services firm said on Monday it is acquiring 100 percent of Seadrill's tender rig business in a US$2.9 billion deal.

"While SapuraKencana has not finalised the funding structure for the deal, we believe that the proposed integration will create value for its shareholders," HwangDBS Vickers Research said in a note on Tuesday.

Assuming 66 percent debt to fund the deal, the transaction would significantly add to earnings (excluding potential advisory fees) with 39-34 percent upside to HwangDBS' earnings per share forecast on SapuraKencana for the financial year ending Jan. 31, 2014 (FY2014)-FY2015 given the superior profit margin for Seadrill's tender rig business.

The research house maintained its "buy" rating on the counter with a target price of RM3.00 per share.

Shares of SapuraKencana were up 7.38 percent at RM2.91 by 10.14am, outperforming the benchmark index's 0.32 percent drop. -- Reuters

Kenanga raises Parkson target price

Posted: 05 Nov 2012 07:09 PM PST

Kenanga Research raised its target price on department store group Parkson Holdings Bhd to RM5.13 from RM4.86 on the back of the firm's retail outlet expansion in Myanmar.

Parkson's first store will be developed through a joint venture with Yoma Strategic Holdings Ltd and First Myanmar Investment Company Ltd. Beyond that, the group aims to open a full-fledged department store at around 200,000 square feet in Yangon in three to four years, catering to the mid to upper-middle income segment.

"We are positive on the news as this would be an opportunity for Parkson to strengthen and expand its network in Myanmar by leveraging on its partners' expertise and strengths to gain first-mover advantage in the rapidly growing retail sector in the country," Kenanga said in a note on Tuesday.

The research house kept its 'market perform' call on the stock.

However, as of 0252 GMT, Parkson shares were down 1.7 per cent against the Malaysian benchmark stock index's 0.5 per cent drop. - Reuters
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Obama, Romney pursue last votes in deadlocked race - Chicago Tribune

Posted: 05 Nov 2012 09:12 AM PST

CBS Political Director John Dickerson maps out possible ways to win for the two presidential campaigns.

President Barack Obama and Republican challenger Mitt Romney make a frenetic dash to a series of crucial swing states on Monday, delivering their final arguments to voters on the last day of an extraordinarily close race for the White House.

              After a long, bitter and expensive campaign, national polls show Obama and Romney are essentially deadlocked ahead of Tuesday's election, although Obama has a slight advantage in the eight or nine battleground states that will decide the winner.

              Obama plans to visit three of those swing states on Monday and Romney will travel to four to plead for support in a fierce White House campaign that focused primarily on the lagging economy but at times turned intensely personal.

              The election's outcome will impact a variety of domestic and foreign policy issues, from the looming "fiscal cliff" of spending cuts and tax increases that could kick in at the end of the year to questions about how to handle illegal immigration or the thorny challenge of Iran's nuclear ambitions.

              The balance of power in Congress also will be at stake on Tuesday, with Obama's Democrats now expected to narrowly hold their Senate majority and Romney's Republicans favored to retain control of the House of Representatives.

              In a race where the two candidates and their party allies raised a combined $2 billion, the most in U.S. history, both sides have pounded the heavily contested battleground states with an unprecedented barrage of ads.

              The close margins in state and national polls suggested the possibility of a cliffhanger that could be decided by which side has the best turnout operation and gets its voters to the polls.

              In the final days, both Obama and Romney focused on firing up core supporters and wooing the last few undecided voters in battleground states.

              Romney reached out to dissatisfied Obama supporters from 2008, calling himself the candidate of change and ridiculing Obama's failure to live up to his campaign promises. "He promised to do so very much but frankly he fell so very short," Romney said at a rally in Cleveland, Ohio, on Sunday.

              Obama, citing improving economic reports on the pace of hiring, argued in the final stretch that he has made progress in turning around the economy but needed a second White House term to finish the job. "This is a choice between two different versions of America," Obama said in Cincinnati, Ohio.

              FINAL SWING-STATE BLITZES

              Obama will close his campaign on Monday with a final blitz across Wisconsin, Ohio and Iowa - three Midwestern states that, barring surprises elsewhere, would be enough to get him more than the 270 electoral votes needed for victory.

              Polls show Obama has slim leads in all three. His final stop on Monday night will be in Iowa, the state that propelled him on the path to the White House in 2008 with a victory in its first-in-the nation caucus.

              Romney will visit his must-win states of Florida and Virginia - where polls show he is slightly ahead or tied - along with Ohio before concluding in New Hampshire, where he launched his presidential run last year.

              The only state scheduled to get a last-day visit from both candidates is Ohio, the most critical of the remaining battlegrounds - particularly for Romney.

              The former Massachusetts governor has few paths to victory if he cannot win in Ohio, where Obama has kept a small but steady lead in polls for months.

              Obama has been buoyed in Ohio by his support for a federal bailout of the auto industry, where one in every eight jobs is tied to car manufacturing, and by a strong state economy with an unemployment rate lower than the 7.9 percent national rate.

              That has undercut Romney's frequent criticism of Obama's economic leadership, which has focused on the persistently high jobless rate and what Romney calls Obama's big spending efforts to expand government power.

              Romney, who would be the first Mormon president, has centered his campaign pitch on his own experience as a business leader at a private equity fund and said it made him uniquely suited to create jobs.

              Obama's campaign fired back with ads criticizing Romney's experience and portraying the multimillionaire as out of touch with everyday Americans.

              Obama and allies said Romney's firm, Bain Capital, plundered companies and eliminated jobs to maximize profits. They also made an issue of Romney's refusal to release more than two years of personal tax returns.

              (Editing by Alistair Bell and Christopher Wilson)

Superstorm Sandy's victims brace for new storm - CBS News

Posted: 05 Nov 2012 07:56 AM PST

NEW YORK A new storm was expected to hit the New York-New Jersey region still shivering and cleaning up after last week's Superstorm Sandy, bringing the threat of 55 mph gusts and more beach erosion, flooding and rain by Wednesday.

25 Photos

New Yorkers helping neighbors after Sandy

Play Video

Cold weather a new problem for Sandy victims

Temperatures dipped toward freezing early Monday, and tens of thousands of people without power along the ravaged Atlantic coastline faced the growing certainly that they would have to find somewhere else to stay. Especially hard hit were the thousands in public housing, who often have no place to go and barricade themselves in darkened apartments for the 12 hours of night.

"Nights are the worst because you feel like you're outside when you're inside," said Genice Josey, a Far Rockaway resident who sleeps under three blankets and wears long johns under her pajamas. "You shiver yourself to sleep."

David Bernard, chief meteorologist for CBS' Miami station WFOR-TV, reports that between Tuesday night and early Wednesday morning the storm will begin to gather strength off the Outer Banks of North Carolina.

The weather will likely deteriorate across the Northeast during the day Wednesday, Bernard reports. Even inland areas like Washington, D.C., could see a heavy, wet snow Wednesday evening before changing over to rain. The bad weather could last until Thursday night and possibly even Friday night.

As more than a million students joined the morning rush hour Monday for the first time since the storm, commuters continued to wait - and sometimes sleep - in their cars in long lines for gas. Other commuters packed the limited-service Long Island trains so tightly that some people couldn't get on.

"We're a gallon away from turning into a Third World country," New York commuter Scott Sire said Monday.

Play Video

Obama on Sandy: We will put "120 percent" toward recovery

Play Video

Romney on Hurricane Sandy: "We are going through trauma"

And with the U.S. presidential election on Tuesday, New York City's mayor was asked if the city would be ready for it. "I have absolutely no idea," Michael Bloomberg said.

The new storm worried the large swaths of the region that were returning to something resembling normal.

"Prepare for more outages," said National Weather Service meteorologist Joe Pollina. "Stay indoors. Stock up again."

Sandy left more than 100 people dead in 10 states. Half a million people in New York state remained without power, and more than 800,000 were without power in New Jersey a week after the storm.

To help victims of Sandy, donations to the American Red Cross can be made by visiting Red Cross disaster relief, or you can text REDCROSS to 90999 to make a $10 donation.

With temperatures sinking into the 30s overnight, New York City officials handed out blankets and urged victims to go to overnight shelters or daytime warming centers.

But government leaders began to wonder where to find housing in the densely developed area around the largest U.S. city for the tens of thousands whose homes could be uninhabitable for weeks or months.

Bloomberg said 30,000 to 40,000 New Yorkers may need to be relocated - a monumental task in a city where housing is scarce and expensive - though he said that number will probably drop to 20,000 within a couple of weeks as power is restored in more places.

Play Video

On the Road: Children of the storm

"We're not going to let anybody go sleeping in the streets. ... But it's a challenge, and we're working on it," Bloomberg said.

One option is setting up Federal Emergency Management Agency trailer camps of the kind that existed after Hurricane Katrina hit New Orleans in 2005, said George W. Contreras, associate director of the emergency and disaster management program at Metropolitan College of New York.

Contreras speculated that large encampments might be set up at a stadium, in a park or in some other open space in the city - something he couldn't recall being done in New York ever before.

"The amount of actual units the city might have in buildings is probably very limited, so I think people will be in FEMA shelters for a while," he said.

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Sandy's devastation on Staten Island

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Good Samaritans bring relief to Staten Island

In a powerless and heavily flooded Staten Island neighborhood, Sara Zavala sleeps under two blankets and layers of clothing. She has a propane heater but turns it on for only a couple of hours in the morning.

"When I woke up, I was like, 'It's freezing.' And I thought, 'This can't go on too much longer,'" she said Sunday.

Nearly 1 million homes and businesses were still without power in New Jersey, and about 650,000 in New York City, its northern suburbs and Long Island.

Sue Chadwick, who left her Long Island, house ahead of the storm, said Sunday night she and others were told to leave their Extended Stay America hotel rooms in Melville that she had booked through the end of next week - to make room for other storm victims.

Chadwick's own house remained uninhabitable. She found her way to Vermont to stay with family.

"It's not like I'm there on business and could catch the next plane out," she said. "There are people in worse shape, but I just feel like when people are in these dire circumstances, you don't want to make it worse."

The phone rang unanswered at the hotel Sunday night.

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